Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Meituan: 'Delivery Margin' Dipped in Q3 | How Patient Will Investors Be with 'New Initiatives'?

DoorDash – Primed for a Nice Open but the Peak of Good News Could Have Passed

DoorDash IPO Context: What It Is & How It Compares to Online Food Delivery Universe

DoorDash IPO – Unprofitable Despite Pandemic Boost

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Equity Capital Markets

In a new filing on Monday, US online food delivery giant DoorDash disclosed additional details of its planned IPO. The company hopes to sell 33 mn new shares at between US$75 and US$85 per share, raising over US$2.4 bn and valuing the company at US$25 bn or more. In this note we compare it to other listed online food delivery firms, and discuss which factors could justify either higher valuation multiples (strong revenue growth) or lower valuation multiples (US restaurant closures) versus global peers.

In a new filing on Monday, US online food delivery giant DoorDash disclosed additional details of its planned IPO. The company hopes to sell 33 mn new shares at between US$75 and US$85 per share, raising over US$2.4 bn and valuing the company at US$25 bn or more. In this note we compare it to other listed online food delivery firms, and discuss which factors could justify either higher valuation multiples (strong revenue growth) or lower valuation multiples (US restaurant closures) versus global peers. 

DoorDash IPO：IPO価格の提案範囲は1株あたり75～85ドルと予想